Cameron and Tyler Winklevoss still believe in Bitcoin and are working hard to make a cryptocurrency exchange-traded fund a reality, the brothers said during Monday’s Ask Me Anything session on the popular discussion website Reddit.
The Reddit AMA covered all sorts of questions including what the twins thought of the Facebook adaptation of the movie, The Social network among other non-cryptocurrency related questions.
One question asked by the audience related to the future price of BTC, whether Bitcoin will remain in its number one position among cryptocurrencies.
Cameron shared his positive regarding the same by stating, “Bitcoin is certainly the OG crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value).” According to Cameron, in the long term, BTC is most likely the winner.
The Twins have long been bullish on Bitcoin, frequently calling it “digital gold” and the mechanism by which future monetary transactions will be made. That belief is called upon and cemented further in another question where a user pointed to a Winklevoss statement in a 2014 AMA where the twins had said that they expected a Bitcoin price of $40,000:
Our thesis around bitcoin’s upside remains unchanged. We believe bitcoin is better at being gold than gold. If we’re right, then over time the market cap of bitcoin will surpass the ~7trillion dollar market cap of gold.
Responding to a question on the relative importance of blockchain versus cryptocurrencies, Tyler stated that “one can't exist without the other. A blockchain without crypto is like calling AOL the Internet.”
The twins also covered questions related to their approach for crypto ETF approval, admitting that they are committed as ever to making ETF a reality.